Korea Development Bank Launches 'Integration Committee'... Follow-up Investment Measures Including Exercise of Voting Rights in Hanjin Kal

"Appointing Experts from Various Fields as Committee Members to Ensure Expertise and Objectivity"

[Asia Economy Reporter Park Sun-mi] The Korea Development Bank (KDB) has launched an ‘Integrated Committee’ involving external experts to execute follow-up investment measures such as exercising shareholder voting rights for Hanjin KAL and to enhance the competitiveness of the aviation industry.

According to KDB on the 25th, the Integrated Committee consists of a total of seven members: six external members including Shin Hee-taek, Chairman of the International Arbitration Center at the Korea Commercial Arbitration Board (Chairman), Jang Ji-sang, President of the Korea Institute for Industrial Economics & Trade, Kim Dong-hwan, Senior Research Fellow at the Korea Institute of Finance, Kim Soo-gon, Vice Chairman of the Korea Air Transport Association, Choi Moon-hee, Professor at Kangwon National University, and Kang Kyung-hoon, Professor at Dongguk University, along with Ahn Young-gyu, Head of Corporate Finance Division at KDB. To ensure the committee’s expertise and objectivity, external experts from various fields including industry, management, economics, law, and aviation were appointed as members.

The Integrated Committee is a deliberation and resolution body for exercising shareholder rights related to Hanjin KAL shares, including voting on agenda items at the general shareholders’ meeting, as well as recommending outside director candidates for Hanjin KAL and Korean Air, thereby executing follow-up investment measures for Hanjin KAL. To ensure transparent and rational exercise of shareholder rights, the committee plans to establish and disclose voting criteria in advance. Furthermore, it will exercise voting rights independently to enable shareholder value enhancement and sustainable growth of the company.

A KDB official explained, "In addition to the Integrated Committee, we are preparing to establish a Korean Air Management Evaluation Committee," adding, "The purpose is to faithfully perform the role of a sound management supervisor for the successful integration of the two major airlines."

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